TAL’s Risk Academy will host a series of education workshops to help advisers promote business insurance to clients.

The workshops will focus on technical skills to create effective business succession plans.

Business insurance is a growing part of financial advisers’ offerings, but underinsurance is a major issue, as it is in general insurance.

TAL Head of Licensees and Partnerships Beau Riley says only 20% of the 2.3 million businesses in Australia have succession plans.

“There is a clear need for business succession advice, and financial advisers with the technical knowledge and skills in the space will differentiate themselves.”

The workshops will help advisers identify advice opportunities in their customer bases.

Sessions will be held next month in mainland capital cities, with fees donated to the Australian Business and Community Network Scholarship Foundation to help disadvantaged children improve their education.